NZDUSD Is Set for a Bearish Breakout

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


NZDUSD Analysis – The Market Is Set for a Bearish Breakout 

NZDUSD is bearish on the daily time frame. The daily candles are currently resting under the Moving Averages period fifty (blue) and twenty (yellow).

NZDUSD Key Levels

Resistance levels: 0.6550, 0.6380
Support levels: 0.6200, 0.6280

Nzdusd Is Set for a Bearish Breakout

NZDUSD Long-Term Trend: Bearish

NZDUSD is set for a bearish breakout below 0.6280. The market was already oversold during the middle of May. The market experienced a bullish retracement in the bearish trend from 0.6280 to 0.6650. The bulls faced resistance at 0.6550 during the late part of May into June. The resistance level led to a bearish reversal to continue the downtrend. A double top was formed at the resistance level, which led to a displacement to the downside.

The previous low at 0.6280 was cleared with the bearish displacement. A new lower low was formed on the 14th of June at $0.6200. The market was oversold at the formation of the swing low. This led to a push to 0.6380. The market has moved back and forth between 0.6380 and 0.6200, forming a symmetrical triangle. A bearish breakout is set to play out in the market.
Nzdusd Is Set for a Bearish Breakout

NZDUSD Short Term Trend: Bearish

NZDUSD market price action within the symmetrical triangle is clearer on the four-hour time frame. There was a bearish breakout below 0.6280. The bearish breakout led to the test of the ascended trend line. The market has risen from the oversold region and from the supporting trend line. The market is currently overbought, as seen on the Stochastic Indicator. A bearish breakout towards $0.6200 is currently anticipated.

How To Buy Lucky Block


Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *